Banks / Suryoday Small Finance Bank

Suryoday Small Finance Bank (SURYODAY)

Small Finance Bank Microfinance-to-Bank Conversion Navi Mumbai-Headquartered, Pan-India Presence
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🏦 Bank Overview

📍
Headquarters
1101, Sharda Terraces, Plot No. 65, Sector 11, CBD Belapur, Navi Mumbai - 400614, Maharashtra
👤
MD & CEO
R. Baskar Babu (Baskar Babu Ramachandran)
📅
Established
2008-09 (as Suryoday Micro Finance, an NBFC-MFI) · received RBI Small Finance Bank licence in 2016-17 · commenced banking operations in January 2017
🌐
Official Website
suryoday.bank.in ↗
🏛️
Ownership
Private sector, publicly listed (BSE: 543279 / NSE: SURYODAY) since December 2021
🏢
Network
~715+ banking touchpoints across 16+ states/UTs · ~42 lakh customers
Suryoday Small Finance Bank uses the standard designation MD & CEO for its top executive, like most private/small finance banks. Note: the bank traces its roots to Suryoday Micro Finance, an NBFC-MFI co-founded in 2008-09 to provide microloans to low-income households and micro-entrepreneurs. After receiving an RBI Small Finance Bank (SFB) licence in 2016-17, it converted into Suryoday Small Finance Bank and commenced banking operations in January 2017, retaining its microfinance-led, financial-inclusion focus alongside a growing secured/retail loan book (MSME, affordable housing, vehicle finance).

👥 Leadership — MD & CEO

Current

R. Baskar Babu

MD & CEO, Suryoday Small Finance Bank — co-founder of predecessor company Suryoday Micro Finance in 2008-09 and MD & CEO of the bank continuously since it commenced banking operations in January 2017. The RBI most recently approved his re-appointment for a further three-year term from 23 January 2026 to 22 January 2029. He holds a B.E. (Mechanical) from the University of Madras and an MBA from Pondicherry University.

Note on leadership continuity

Unlike most banks, Suryoday Small Finance Bank has had only one MD & CEO — founder R. Baskar Babu — since its banking launch in 2017. The RBI approves MD & CEO appointments in fixed terms (typically up to 3 years), so the table below shows his last three RBI-approved terms rather than a list of different predecessors.

Last Three RBI-Approved MD & CEO Terms (R. Baskar Babu)

TermTenureNotable Period
Current termJan 2026 – Jan 2029Steering the bank through the post-microfinance-stress recovery; FY2025-26 net profit rebounded ~32% year-on-year
Previous term~Jan 2023 – Jan 2026Industry-wide microfinance asset-quality stress cycle of FY2024-25 pushed GNPA/NNPA sharply higher and cut annual profit
Prior term~Jan 2020 – Jan 2023Bank's IPO and listing on BSE/NSE (December 2021); post-COVID business recovery
Exact term-transition dates for the earlier two terms are approximate (~), reconstructed from periodic RBI re-appointment news reports rather than a single official source; please verify on Suryoday SFB's official About Us / Leadership page.

📞 Customer Care & Locators

Customer Care Email
smile@suryodaybank.com

NRI queries: nri@suryodaybank.com

Toll-Free (General Banking)
1800 266 7711

Available 24×7 · WhatsApp Banking: 8422890082

NRI Helpline
022-6904 5666 / 022-6229 8799
Grievance Redressal: Vice President - Customer Service, 022-4094 1556
📍 Branch Locator → 🔎 IFSC Code Finder → 🏛️ RBI Bank Branch/IFSC Master →

💼 Products & Services

💰 Loans

  • Microfinance / Group Loans (Joint Liability Group, rural & urban)
  • MSME & Micro/Small Business Loans
  • Affordable Housing Loans
  • Loan Against Property
  • Vehicle / Commercial Vehicle Loans
  • Gold Loan
  • Unsecured Business & Personal Loans

🏦 Deposits

  • Savings Bank Account (incl. senior citizen & women-focused variants)
  • Current Account
  • Fixed Deposit (domestic & tax-saving)
  • Recurring Deposit
  • NRE / NRO (Non-Resident) Deposits
  • Government small savings schemes (Sukanya Samriddhi etc.)

📱 Digital & Forex

  • Suryoday Mobile Banking App & Internet Banking
  • UPI Payments & UPI-powered credit line
  • Debit Cards & FD-Backed Secured Credit Card (RuPay)
  • Business Correspondent-assisted banking (micro-banking reach)
  • NRI remittances & basic forex services

➕ Other Services

  • Bancassurance — Life & General Insurance distribution
  • Mutual Funds & Broking (third-party distribution)
  • Financial literacy & livelihood advisory for micro-banking customers
  • PMJDY, APY, PMJJBY, PMSBY (govt. social security schemes)

📈 Interest Rates

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Domestic retail Fixed Deposit rates below (for deposits below ₹3 crore) are fetched live from Suryoday SFB's official rates page where possible. If the live fetch is unavailable, the last published rates are shown instead.

Fetching live rates…

📊 Financial Results (Last 4 Years)

MetricFY 2025-26 (Mar 2026)FY 2024-25 (Mar 2025)FY 2023-24 (Mar 2024)FY 2022-23 (Mar 2023)
Net Profit (Full Year)₹151.97 Cr~₹115 Cr₹215.96 Cr₹77.70 Cr
Total Deposits₹13,994 Cr₹10,580 Cr₹7,780 Cr₹5,167 Cr
Gross Advances₹12,879 Cr₹10,251 Cr₹8,650 Cr₹6,114 Cr
Gross NPA Ratio6.55%7.16%~2.79%~3.10%
Net NPA Ratio4.21%~4.46%~0.90%~1.00%
CRAR (Capital Adequacy)20.45%25.83%28.41%33.70%
Figures compiled from Suryoday SFB's published quarterly/annual results and press releases. Note the industry-wide microfinance (MFI) asset-quality stress cycle of FY2024-25, which hit Suryoday's joint-liability-group book hard: GNPA rose from ~2.79% (Mar 2024) to 7.16% (Mar 2025) and provisioning coverage dropped sharply, pulling FY2024-25 net profit down to roughly a half of FY2023-24's level despite continued balance-sheet growth. Asset quality improved modestly through FY2025-26 (GNPA down to 6.55%) alongside a ~32% rebound in annual net profit, even as CRAR declined with rapid balance-sheet expansion. FY 2024-25 net profit and FY 2023-24/FY 2022-23 NPA ratios (marked ~) are approximate, derived from press releases and year-on-year growth commentary rather than a single confirmed disclosure. Always verify precise numbers on Suryoday SFB's official Investor Relations page before making financial decisions.

🏛️ RBI Regulatory Information (As on Date)

Regulator
Reserve Bank of India, under the Banking Regulation Act, 1949 and RBI's Small Finance Bank licensing guidelines, 2014
Bank Category
Scheduled Commercial Bank — Small Finance Bank (Second Schedule, RBI Act 1934)
D-SIB Status
Not classified as a Domestic Systemically Important Bank by RBI (D-SIB list currently comprises SBI, HDFC Bank & ICICI Bank only; Small Finance Banks are not in this category)
Minimum CRAR Required
15% (higher than the 11.5% required of universal banks, per RBI's SFB licensing norms) — Suryoday SFB's actual CRAR: 20.45%
Priority Sector Lending
Eased from 75% to 60% of Adjusted Net Bank Credit (ANBC) effective 1 April 2026 (40% earmarked to specific PSL sub-sectors, 20% flexible, 10% small/marginal farmers requirement unchanged) — still well above the 40% required of universal banks, reflecting the SFB mandate to serve underserved/unbanked segments
PCA Framework
Not currently under RBI's Prompt Corrective Action framework, though the FY2024-25 microfinance asset-quality stress cycle drew heightened regulatory and investor scrutiny of the bank's GNPA/NNPA trajectory
Deposit Insurance
DICGC cover up to ₹5,00,000 per depositor per bank
Grievance Redressal
RBI Integrated Ombudsman Scheme, 2021 — toll-free 14448
More
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